By Dhirendra Tripathi
Investing.com – Workhorse Group Inc (NASDAQ:WKHS) rose more than 8% in premarket trading Tuesday as the electric truck maker remains a topic of discussion in the Redditt forums that have boosted the so-called meme stocks.
One user exhorted investors to hold the stock until it hits $100 while another called it “Our future Apple (NASDAQ:AAPL)." Another predicted it will hit $100 by end of this month. The stock closed at $16.96 Monday.
The Cincinnati-based truck manufacturer entered the league of meme stocks last month and after buzzing for a few days went low key. But the Reddit followers are up to discussing the stock again, talking about it being heavily shorted.
While there was no news or an update from the company, the recent rally including today’s is a counter to the shorts.
Many of the online trading forum members discussed U.S. Postal Service’s $6 billion order with Oshkosh Corporation (NYSE:OSK) to make next generation electric postal delivery vehicles. Workhorse has taken USPS to the court challenging the decision.